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Tags: fbi | cryptocurrency | hacking | finance | jesse powell | kraken | allegations

FBI Searched Home of Crypto Exchange Head

By    |   Thursday, 06 July 2023 10:40 PM EDT

The FBI searched the residence of Jesse Powell, founder of the cryptocurrency exchange Kraken, three sources informed The New York Times.

Surrounding a hacking of the Verge Center for the Arts, authorities investigated allegations that Powell cyberstalked it by repeatedly blocking employees' access to communications and accessing confidential information.

The 42-year-old tech magnate helped start the arts center nearly 15 years ago in Sacramento, California, but was removed from the board of directors in 2022 over his controversial views on race and gender.

Verge then reportedly approached the FBI about Powell's potential role in interfering with its digital accounts following his departure.

Since the March raid on his Los Angeles home, Powell has not been accused of any crimes by prosecutors. Powell's legal team has denied that he engaged in any cyberstalking or hacking activity.

A Kraken spokeswoman told The Times that the Verge investigation was unrelated to the cryptocurrency exchange company and that it had received no indication of being further looked into.

The company, however, has a history of being eyed by federal prosecutors.

Kraken paid a $360,000 fine in 2022 to settle charges issued by the Department of Treasury that it violated international sanctions when it permitted users in Iran to trade digital currencies.

And earlier this year, the company paid a $30 million fine to the Securities and Exchange Commission for offering an investment product that allegedly violated securities laws.

"Since 2019, Kraken has offered and sold its crypto asset 'staking services' to the general public, whereby Kraken pools certain crypto assets transferred by investors and stakes them on behalf of those investors," an SEC press release read.

Information from Reuters was used in this report.

© 2024 Newsmax. All rights reserved.


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The FBI searched the residence of Jesse Powell, founder of the cryptocurrency exchange Kraken, three sources informed The New York Times.
fbi, cryptocurrency, hacking, finance, jesse powell, kraken, allegations, investigation
281
2023-40-06
Thursday, 06 July 2023 10:40 PM
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